Shares are up 15% on the Frankfurt Stock Exchange due to information that the Chinese company Anta Sports Products, owner of sports brands such as Fila, is analyzing the possible acquisition of the German manufacturer of sports clothing and footwear.
As reported by Bloomberg, Anta Sports, which is listed on the Hong Kong Stock Exchange, has been working with an advisor to evaluate a potential offer for Puma in which it could go hand in hand with a private equity firm if it finally submitted a proposal.
Other possible bidders could include rival Chinese clothing company Li Ning, sources close to the negotiations tell Bloomberg. Li Ning, named after the legendary gymnast who founded the company, has been negotiating financing options with banks while conducting an initial evaluation of Puma. Puma could also attract the interest of sportswear companies such as Japan’s Asics. The deliberations are preliminary and it is not clear which bidders will submit offers.
In August, Bloomberg reported that the Pinault family—which owns 29% of the capital through the conglomerate Artémis Group—was exploring strategic options that include the sale of its stake. Despite Thursday’s rally, in Frankfurt this year, giving the company a market value of €2.5 billion.
Anta, owner of brands such as Fila and Jack Wolfskin, has gained 10% on the Hong Kong stock market this year, giving the company a market value of 31 billion dollars (26,762 million euros). A consortium led by Anta, which also included Asian buyout firm FountainVest Partners, paid $5.2 billion in 2019 to acquire Amer Sports, owner of brands such as Salomon and Arc’teryx. Amer subsequently held an initial public offering of shares in New York last year, with Anta as its largest investor, according to data compiled by Bloomberg. Li Ning shares are up about 8% in 2025, reaching a market value of nearly $6 billion.
A representative for Anta did not respond to requests for comment, while representatives for Artémis, Asics and Puma declined to comment. In response to an inquiry from Bloomberg News, Li Ning stated that he remains focused on the growth of his brand and has not carried out any substantial negotiations or evaluations related to Puma.
In any case, Bloomberg points out that the approaches are preliminary and it is not clear which bidders will proceed with the offers if they occur, since the valuation expectations of Puma’s largest shareholder, the billionaire French Pinault family, which controls almost a third of the capital through its holding company Artémis, could represent a significant obstacle to any transaction.
Puma Strategy
François-Henri Pinault, managing partner of Artémis, stated in September that the participation in Puma is “interesting”, but “not strategic”, and that options regarding participation were kept open.
Puma has been trying to renew itself under its new chief executive, Arthur Hoeld, after failing to generate much enthusiasm for its products among consumers in recent years. In July, the German firm named former Adidas executive Andreas Hubert as chief operating officer. Hubert, with 20 years of experience at Adidas, has served as the company’s chief information officer for the last four years.
Founded in 1948, Puma recorded €281.6 million in net profit last year and €8.8 billion in sales. His sponsorships include Manchester City of the English Premier League, the Portugal national team and the Denmark men’s handball team.
Puma announced last month that it plans to cut 900 more jobs and focus on athletics, football and training. It is also revamping its marketing strategies to create more compelling stories about products as they are developed, hoping to make the brand more attractive to consumers. Puma’s goal is to grow again by 2027 and consolidate itself as one of the three main sports brands worldwide, in addition to obtaining considerable profits in the medium term.
